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TSE:AEM
Agnico-Eagle Mines (AEM.TO)
Financials 
Technical Analysis 
Aug 23, 2026, 12:00 amThis summary was created by AI, based on 54 opinions in the last 12 months.
Agnico-Eagle Mines (AEM) is widely recognized among analysts as a premier gold mining company, particularly noted for its solid cash flow and strong balance sheet, boasting around $3 billion in cash reserves. Experts emphasize its operations in politically stable jurisdictions and its consistent production growth, which enhances its attractiveness as an investment. Despite recent share price volatility due to fluctuations in gold prices, many analysts advocate for AEM as a long-term holding, recommending strategic stop-loss measures. The consensus support for AEM stems from its ability to generate significant free cash flow, disciplined debt management, and a history of meeting or exceeding production guidance. The current yield and potential for dividends are also regarded as favorable attributes, adding to its appeal among investors looking for a hedge against inflation.
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Premium contentWe reiterate AEM as a TOP PICK. As the Odyssey project moves towards underground mining by 2028 they expect annual gold production to grow to more than 500,000 ounces. It trades at 1.3x book. Cash reserves are growing, as they retire debt and buy back shares. We recommend trailing up the stop-loss (from $52) to $60, looking to achieve $92 – upside potential of 28%. Yield 2.3%
(Analysts’ price target is $91.82)
Very strong gold company.
Excellent track record of capital allocation.
Strong cash flow and balance sheet.
Not a speculative stock - quality long term investment.
Would recommend buying.
Rick Rule
Recent high in gold prices good for company.
Expecting further gains on stock.
Demand for commodities rising with EV transition.
Enormous growth stock.
Gavin GrahamUS debt crisis means further indebtedness, further pressure on USD, and the defence for that is in gold and silver. One of the best of the gold companies. Central banks are buying all the gold they can possibly get.
Ross Healy
Premium contentThis Canadian based producer of over 3 million ounces of gold, is the third largest producer in the world. It trades at 12x earnings and 1.6x book. Cash reserves are growing as debt is retired and shares are bought back. Its dividend is backed by a payout ratio under 35% of cash flow. We recommend a stop-loss at $52, looking to achieve $92 -- upside potential of 26%. Yield 2.1%
(Analysts’ price target is $91.85)
Not unique in stock price diverging from price of gold. It owns the 2 largest gold mines in Canada. Bit of indigestion with acquisitions. Lots of moving parts. One of the best teams and its execution. One of the premier companies globally.
This whole trade has legs. He's looking for an entry point. Prefers to go with torquier and debt-free names. See his Top Picks.
The gold sector is doing well. Central banks are shunning U.S. dollars and U.S. Treasuries because of high levels of debt. It took over Kirkland Lake which has a lot of good properties for development. It has a strong balance sheet to carry out this development. It has become hard to find gold.
Buy 19 Hold 1 Sell 0
Ross HealyYou want to be long gold and silver at the right time, once every 15-20 years, and it's hard to find those times. Free cashflow is harder to come by when costs have been rising. And you have to be right about your bond yields, which have to keep coming down for gold to work. That's probably the way they're going to go. He likes ABX and AEM and owns them, but is not piling in.
Greg Newman
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EPS of $0.8578 beat estimates of $0.7328 and revenues of $2.27B met expectations. The company delivered strong results driven by record quarterly gold production and better-than-expected cost performance. Management reiterated its gold production, cost, and capital expenditure guidance for 2023, expecting to produce 3.24 to 3.44 million ounces of gold with total cash costs per ounce between $840 and $890. It generated strong free cash flows, strengthened its balance sheet by repaying ~$1B of debt, and declared a quarterly dividend of $0.40 per share. These were solid results, and we feel that investors should be pleased with these earnings.
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